Nwam LLC Invests $5.47 Million in U.S. Bancorp (NYSE:USB)

Nwam LLC bought a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, according to its most recent filing with the SEC. The firm bought 119,648 shares of the financial services provider’s stock, valued at approximately $5,471,000.

Other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd grew its position in shares of U.S. Bancorp by 1,140.5% in the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in U.S. Bancorp by 48.2% in the 1st quarter. Axxcess Wealth Management LLC now owns 30,466 shares of the financial services provider’s stock valued at $1,362,000 after buying an additional 9,903 shares during the last quarter. Quadrature Capital Ltd bought a new position in U.S. Bancorp in the 1st quarter worth approximately $1,353,000. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth approximately $262,000. Finally, BOKF NA boosted its position in shares of U.S. Bancorp by 29.7% in the first quarter. BOKF NA now owns 229,955 shares of the financial services provider’s stock valued at $10,107,000 after acquiring an additional 52,684 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $51.99 on Friday. The firm has a market cap of $81.11 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The company’s 50-day moving average price is $47.48 and its two-hundred day moving average price is $43.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $52.08.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has approved a stock buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.85%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Barclays lifted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson lifted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.22.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.